Who Can Access Your Digital Assets In The Event Of incapacitation or Death? RUFADAA In Ohio Explained.
Whether it be on-line bank accounts, social media accounts, e-mail accounts, etc., most people today have digital assets. When one becomes incapacitated or deceased, how does a fiduciary gain access to this information? First, one must become familiar with the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA).
Ohio, like a number of states has adopted RUFADAA. To read ORC Section 2137.01, click here. RUFADAA defines “digital asset” as an electronic asset to which a person has a right or interest. The extent to which a fiduciary has access to this information is determined under RUFADAA as follows:
… Read More... “Estate Planning and Digital Assets in Ohio”First – The account custodian may have an on-line tool through which the user has provided direction as to the extent digital assets can be revealed to third parties.
Second – If number one does not apply, the owner can designate in estate planning documents (POA, Will, Trust) who can access this information and to what extent.
Third – If neither one nor two apply, the account custodian’s terms of service apply.
Fourth – If the terms of service do not address